What we’ve seen Team Biden do to the economy so far is only the beginning as the inevitable recession closes in. There is no back pedal and their end point is one you won’t like.
The Feds are going to continue increasing interest rates but they won’t be able to keep up with the inflation because, for one thing, the interest rate is too high. For another, the very things causing it are unchanged. The Epoch Times reports that we haven’t even begun to see how bad it is.
The interest rates are affecting housing, and stocks. Stocks are down under Joe Biden.
We’re suffering through an 8.8% increase in food prices and a 10%+ CPI. Unfortunately, the suffering has only begun.
The 8.8 percent increase in food prices that Americans have already seen does not take into account the dramatic cost increases that farmers are now experiencing. This is because farmers pay their costs upfront and only recoup them at the point of sale, months later.
The cost of food largely hinges on the price of oil. Team Biden has done everything possible to crush oil and gas when we have nothing viable to replace it. There are no EV trucks to deliver the food and equipment relies on diesel, which is heading for a shortage. As for fertilizer, it has increased in price astronomically.
Much of the cost of food hinges on the price of oil. There are too few refineries thanks to regulations and the lockdowns.
A farmer speaking with The Epoch Times said that that fuel and fertilizer together make up 55 percent of his total costs. The price of diesel fuel has more than doubled, from $2.50 per gallon at the end of 2020 to more than $5 per gallon today. Farmers say the cost of fertilizer, an oil derivative, has tripled and in some cases quadrupled. That’s as of April. It’s gotten worse this month.
Farmers pay up front and we haven’t seen the dramatic cost increases farmers are now experiencing.
Samantha Power, head of Biden’s Agency for International Development, thinks it can be solved with “natural solutions like manure and compost, and this may hasten transitions that would have been in the interest of farmers anyway. Never let a crisis go to waste.”
As one famer told The Epoch Times, there isn’t enough manure to fertilize the crops.
How does anyone tame inflation when Team Biden won’t do what is necessary over some pie-in-the-sky ideology of climate change.
Deutsche Bank in a research report titled “Why the coming recession will be worse than expected” said the recession could be much worse than previously thought.
“A mild recession would be a relatively small increase in the unemployment rate,” Lavorgna said. “If, however, the Fed feels that it needs to compress demand further, then we are looking at a much deeper recession, with the unemployment rate perhaps doubling, if not more.”
Team Biden is doing this. They won’t stop manufacturing crisis after crisis. If Republicans get control of Congress, they can slow or stop some of the damage.
Biden put too many dollars into the market with too few goods. He put too many regulations on gas and oil and other businesses. The lockdowns were a disaster. The sanctions seriously harm the West and haven’t done anything to stop Putin. They won’t stop Putin – he has Asia.
Biden is a disaster.
As the rates go up, he’s raising taxes which is the exact opposite of what he should do.
When Biden says it will hurt but we have to sacrifice, he means you will sacrifice as he shifts our capitalist system to a socialist one. That’s the end point and they are rushing us toward it. Our only hope is the Republican Party.
A Dutch politician warns that the World Health Organization is orchestrating The Great Reset. If you wanted to push the world to a great reset, wouldn’t you do exactly what Team Biden is doing?